Company sells 30 million units of one share and one warrant at C$0.05
By Devika Patel
Knoxville, Tenn., May 22 - MicroPlanet Technology Corp. said it raised C$559,852 in the initial tranche of a C$1.5 million non-brokered private placement of units.
The company is selling 30 million units of one common share and one warrant at C$0.05 per unit. It sold 11,197,031 units in the first tranche.
Each warrant is exercisable at C$0.10 for three years. The strike price reflects a 66.67% premium to the May 21 closing share price of C$0.06.
Based in Seattle, MicroPlanet develops distributed-energy technologies.
| Issuer: | MicroPlanet Technology Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 30 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Settlement date: | May 22 (for C$559,852)
|
| Stock symbol: | TSX Venture: MP
|
| Stock price: | C$0.06 at close May 21
|
| Market capitalization: | C$7.66 million
|
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